All Forum Posts by: Ashley Wilson

@Shawn Connors 

@Eric Armstrong

Thank you both for your messages!  

Minimum Eight Flips

Good Morning BP Community!!!

Can you tell from the timing of my post, I am eager to get going on 2017?!?!?! Kidding aside, I really am motivated to get going! My business partner and I have set a goal of fully renovating EIGHT houses this year. In our third year of business, coming off flipping 3 houses, I believe this to be very realistic. We have spent the past two years building our team, and securing financing. Our new rate limiter is finding the actual properties. Our farm area is Montgomery, Chester, and Delaware Counties in Pennsylvania. Note, we have a few locations within those counties we don't touch, but they are small pockets. Anyway, our area is quite competitive, and therefore, we are finding the inventory to be quite low (especially recently). Does anyone have any ideas on how to increase our search? We currently search MLS, For Sale By Owner, and Craigslist. We also have flyers that we drop off at any house that we think might be a good candidate. Looking forward to your feedback!

Best wishes to all for a productive 2017,

Ashley

HEY BP!!!

I need your help! I am looking into getting Business Liability Insurance for my flipping company which is under a LLC. I need suggestions on companies, rates, what type of coverage I need, and anything else that you think might be helpful!

Thank you so much for your help!!!

-Ashley

@Jonathan Lehman I completely understand.  And IMO analysis is still a good thing, so I would be happy to help you with any questions you might have:)  If you are investing in Columbia too, I can help you get started with the analysis part (don't worry we don't compete in that area:))...and actually some of my contacts may even cover that area as well.  Looking forward to speaking with you and happy reading, hopefully you will find some helpful tips in some of the entries I have posted!

Congratulations and welcome!!! I am still relatively new to flipping (just finished our second year in business), and I have several blog posts (which you can link to from my page) about being a newbie and how we went about getting started. I am also from PA, so yay East Coast! I wish you lots of success and if you have any questions, feel free to ask:) 

Congratulations! Very impressive and it seems that you are off and running on your next projects too! What was your forecasted ARV? Also you mentioned not paying taxes, but you said that the house was under contract approximately 8 months after acquisition so how did you avoid taxes? Did you do a 1031 exchange?

Congratulations and welcome to BP!!! It's too bad you moved from Pennsylvania, as I am from there and could have provided a little more local support.  However, the fundamentals are the same.  For me the flipping consists of a triangle: House, Team (and not just sub-contractors) and financing.  Lining those three components up is the challenge, and while I am still relatively new myself, I find that at different points of our business, each point of the triangle has posed different challenges.  If you continue to think creatively to keep those three aspects in check, you have the foundation (no pun intended...ok, maybe a little!) to build (ok, enough already) a successful business!  Let me know if you need any specific advise! Best wishes!

@Brie Schmidt Yes!!!!! This is awesome!!! I am 2 years in, and still learning and absorbing everything I can from BP, and the community.  Like you, I have valued the connections within this community and the opportunity they create!  I wish you lots of success and can't wait to see what the future holds for you!!! 

Hi @Geraldine Magner,

Welcome!!!! First off congrats for joining and writing this post. I know it takes courage just to put yourself out there like that! I am originally from Royersford area, but now live in Radnor/Newtown Square.  Good and bad thing about our area is there are a lot of people in real estate in this area.  Good, because there are a lot of areas for information, and clearly there is a demand for it...bad, there is so much competition so if you are not one to get emotional about things, and you stick to your numbers (which is what you should be doing), it may take a bit of time to get in because the some of the competition is happy making little, to sometimes even having a loss on a property...so the bidding here is intense.  But don't be discouraged, you will find your niche!  If you have any questions, or need any insight/help, don't be afraid to reach out!

Sincerely,

Ashley Wilson